PUNE, India, January 26, 2017 /PRNewswire/ --
The report "Directional Drilling Services Market by Application (Onshore, and Offshore), Type (Conventional, and Rotary Steerable System), Service (LWD, MWD & Survey, RSS, Motors), and Region - Global Forecast to 2021", Published by MarketsandMarkets, the market is expected to grow from an estimated USD 8.33 Billion in 2016 to USD 10.30 Billion by 2021, at a CAGR of 4.34% from 2016 to 2021.
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Browse 76 market data Tables and 44 Figures spread through 164 Pages and in-depth TOC on"Directional Drilling Services Market"
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Increasing demand for energy due to urbanization & industrialization, ongoing shale gas revolution and new oilfield discoveries are the major factors driving the market for directional drilling across the globe.
Rotary Steerable systems (RSS) based service would dominate the global Directional Drilling Services Market
In terms of services, the Directional Drilling Services Market in this report has been classified based on the following segments, namely, rotary steerable system (RSS), Logging While Drilling (LWD), Measurement While Drilling (MWD) & survey, motors and others (includes directional drilling technologies and systems such as well bore positioning, automated drilling systems, side tracking, well planning, hydraulics, torque, and drag analysis). The RSS segment dominated the Directional Drilling Services Market in 2016 due to the increase in the horizontal drilling activities associated with the development of shale gas mainly in countries such as China. According to the 12th five-year plan in China, the country planned on increasing its natural gas consumption to 9,200 Bcf by 2015 as it looks to replace coal as a chief energy source. Hence, the market size of the RSS is the largest.
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Conventional is the largest type-based market segment
The report also segments Directional Drilling Services Market on the basis of type, namely, Conventional & RSS. Conventional based Directional Drilling Services Market is expected to dominate the market by 2021. This growth is majorly driven by the Asia-Pacific due to the rapid industrialization and urbanization in the region.
North America is the dominant market for directional drilling
North America is currently the largest market for directional drilling services. In North America, most of the directional and horizontal wells are drilled in onshore reservoirs. In North America, the growth of the Directional Drilling Services Market can be attributed to factors such as ongoing shale gas developments in countries like U.S. and Canada.
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To provide an in-depth understanding of the competitive landscape, the report includes profiles of companies; namely, Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc. (Switzerland), National Oilwell Varco, Inc. (U.S.), Nabors industries ltd. (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal Drilling & Industries Limited (India), General Electric Oil & Gas (U.K.), Gyrodata (U.S.) , Scientific drilling international (U.S.), LEAM drilling systems LLC, among others. Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share.
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